California reportedly growing eight times as much marijuana as people are actually consuming

Updated 12:31 pm, Friday, July 28, 2017

A marijuana industry organization leader says growers in the state of California are growing the plant at a rate of about eight times the amount actually legally consumed, as the Los Angeles Times reports.

Growers across the state may be forced to scale back production, especially as state regulations are poised to ban exports come January 1.

During a panel discussion at the Sacramento Press Club on Wednesday, Hezekiah Allen, the executive director of the California Growers Association, warned that such a significant reduction in production could be “painful” for licensed growers.

1. About 44% of Americans have tried marijuana, according to a 2015 Gallup poll. The percentage has grown steadily since Gallup first asked the question in 1969.

1. About 44% of Americans have tried marijuana, according to a 2015 Gallup poll. The percentage has grown steadily since Gallup first asked the question in 1969.

Photo: Michael Ciaglo, Houston Chronicle

2. Fully 11% of Americans (more than 1 in 10) reported to Gallup in 2015 that they currently smoke marijuana.

2. Fully 11% of Americans (more than 1 in 10) reported to Gallup in 2015 that they currently smoke marijuana.

Photo: Getty Images

3. Support for the legalization of marijuana has been growing, with 53% of Americans in favor of it as of 2015, per a different Gallup poll. Support is stronger among younger folks than older ones, and weaker among Hispanics than among whites and African-Americans. less

3. Support for the legalization of marijuana has been growing, with 53% of Americans in favor of it as of 2015, per a different Gallup poll. Support is stronger among younger folks than older ones, and weaker … more

Photo: Getty Images

4. Americans are especially likely to favor legalization of marijuana for medicinal purposes. The drug has been found useful to treat glaucoma, epilepsy, inflammatory bowel diseases, arthritis pain, multiple sclerosis pain, and chemotherapy pain and nausea. Other possible uses include curbing the growth of cancer cells and Alzheimer’s disease, stimulating appetite, and treating anxiety. less

4. Americans are especially likely to favor legalization of marijuana for medicinal purposes. The drug has been found useful to treat glaucoma, epilepsy, inflammatory bowel diseases, arthritis pain, multiple … more

Photo: Getty Images

5. It’s not all good news for the drug, though. Like regular tobacco, it contains carcinogens, and inhaling a lot of smoke is not good for anyone. Though it may be less addictive than other drugs, some people do become dependent on it. It can impair driving ability, too. Many studies find marijuana to be less harmful than alcohol or tobacco, but that doesn’t mean it’s safe. less

5. It’s not all good news for the drug, though. Like regular tobacco, it contains carcinogens, and inhaling a lot of smoke is not good for anyone. Though it may be less addictive than other drugs, some people … more

Photo: Getty Images

6. Folklore has it that Shakespeare may have smoked marijuana, and that Queen Victoria might have used it to alleviate monthly cramps. It’s also reported to have been recommended as a substitute for alcohol by prohibition campaigners in the 19th century. less

6. Folklore has it that Shakespeare may have smoked marijuana, and that Queen Victoria might have used it to alleviate monthly cramps. It’s also reported to have been recommended as a substitute for alcohol by … more

Photo: Getty Images

7. Legalizing marijuana could deliver significant tax revenue to governments seeking just that. In its first year after legalizing marijuana, the state of Washington collected about $70 million in taxes. For Colorado, it was $53 million — and marijuana tax revenue is outpacing that from alcohol in the state. The Cato Institute has estimated that state governments and the federal government could save around $8.7 billion through the legalization of the drug. less

7. Legalizing marijuana could deliver significant tax revenue to governments seeking just that. In its first year after legalizing marijuana, the state of Washington collected about $70 million in taxes. For … more

Photo: Getty Images

8. Growing marijuana, like growing many other crops, requires a lot of resources. According to Mother Jones magazine, California’s crop requires 50% more water during its growing season than the city of San Francisco uses in a year — some 60 million gallons. In Denver, it’s estimated that less than 2% of the city’s electricity usage is for growing marijuana — but that rate is growing rapidly. less

8. Growing marijuana, like growing many other crops, requires a lot of resources. According to Mother Jones magazine, California’s crop requires 50% more water during its growing season than the city of San … more

Photo: Getty Images

9. The marijuana industry in the U.S. was recently estimated to be worth about $3.5 billion, with California research company ArcView seeing that growing to $4.4 billion this year.

9. The marijuana industry in the U.S. was recently estimated to be worth about $3.5 billion, with California research company ArcView seeing that growing to $4.4 billion this year.

Photo: Getty Images

10. Growing marijuana can be surprisingly profitable, with a 2015 Bloomberg report noting that while the wholesale rate for medical marijuana was $2,500 per pound, it was costing a Colorado grower just $600 to produce the stuff. A Forbes article posited that “Legal Cannabis is 2015’s best start-up opportunity.” less

10. Growing marijuana can be surprisingly profitable, with a 2015 Bloomberg report noting that while the wholesale rate for medical marijuana was $2,500 per pound, it was costing a Colorado grower just $600 to … more

Photo: Getty Images

11. You can make money (or lose it!) in medical marijuana without growing any yourself — by investing in marijuana-centered companies. While there can be plenty of money for companies in growing and selling the stuff, big bucks can also be made by developing effective pharmaceutical drugs derived from it. Here are two publicly traded companies to look into: GW Pharmaceuticals is a biopharmaceutical company with a market value of $1.2 billion, while Insys Therapeutics is another, with a market value of $1.8 billion. Both stocks have dropped in recent months, presenting better entry prices for long-term believers, but it’s also quite reasonable to wait for this nascent industry to grow more and to see which companies emerge as profitable winners. less

11. You can make money (or lose it!) in medical marijuana without growing any yourself — by investing in marijuana-centered companies. While there can be plenty of money for companies in growing and selling … more

Photo: Getty Images

Budtender Alejandro Garcia (center), prepares an order of marijuana at cannabis dispensary The Green Cross, in San Francisco, California, on Tuesday, Nov. 1, 2016.

Budtender Alejandro Garcia (center), prepares an order of marijuana at cannabis dispensary The Green Cross, in San Francisco, California, on Tuesday, Nov. 1, 2016.

Photo: Gabrielle Lurie, The Chronicle

California reportedly growing eight times as much marijuana as people are actually consuming

Unlicensed growers, however, may attempt to continue to sell marijuana on the black market — a crime for which punitive action will eventually be enforced.

Twenty-nine states in the United States have legalized marijuana in some capacity, but as of last November, California is one of the few that has legalized its recreational use.